CreativeOne Wealth LLC Buys 3,242 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

CreativeOne Wealth LLC grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 76.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,475 shares of the pharmaceutical company’s stock after acquiring an additional 3,242 shares during the quarter. CreativeOne Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $3,476,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Edgewood Management LLC boosted its position in Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after purchasing an additional 1,526,983 shares during the last quarter. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 18.1% in the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after purchasing an additional 851,054 shares during the last quarter. AMF Tjanstepension AB purchased a new position in Vertex Pharmaceuticals in the second quarter worth about $257,655,000. International Assets Investment Management LLC boosted its position in Vertex Pharmaceuticals by 74,015.5% in the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after purchasing an additional 324,188 shares during the last quarter. Finally, AustralianSuper Pty Ltd purchased a new position in Vertex Pharmaceuticals in the third quarter worth about $105,282,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 27.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,445 shares of company stock worth $2,218,394 in the last quarter. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

VRTX has been the topic of several research reports. Truist Financial reissued a “buy” rating and issued a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. JPMorgan Chase & Co. lowered their price objective on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Piper Sandler lifted their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group lifted their price objective on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $504.38.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $464.56 on Thursday. The company has a market cap of $119.64 billion, a P/E ratio of -233.45 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The business’s 50 day moving average price is $473.08 and its 200-day moving average price is $474.28. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $346.29 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the business earned $3.67 EPS. Vertex Pharmaceuticals’s revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.